The break above 1.4600 last week opens for an extension towards 1.4750 near term. However 1.4700 has proved strong support so far and need to get above this level in the next few days to avoid a correction lower. Have minor support at 1.4600 today. Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4310, which must hold to keep alive the prospects for higher levels.
Support: 1.4600, 1.4530, 1.4444 (rising sup), 1.4360, 1.4310 (key swing level)
Resistance: 1.4700, 1.4750, 1.4970 (key level) and 1.5000 (key level)
240 min â€“ Support at 1.4405 and falling resistance at 1.4895. Rising trend support at 1.4600 today.
From Friday Didnâ€™t quite manage to get to 1.9760 resistance yesterday. The recent rally looks a bit overdone now as the BoE quarterly report was quite negative yesterday and I donâ€™t see EURGBP falling below 0.7400 key support anytime soon, actually more likely to see a move towards 0.7495 in EURGBP and that should put pressure on GBP across the board. GBP fell quite some way lower across the boar40 followed by more support at 1.9480. Key support remains the yearly low at 1.9336 and a break of this level would open for a test of 1.90 near term. To the upside the 1.9760 level is key resistance for today, followed by overhead resistance at 1.9870.
Support: 1.9540, 1.9480, 1.9385, 1.9337 (key Jan low), 1.9310
Resistance: 1.9760, 1.9870 (overhead res) 1.9960, 2.0000, 2.0170 (Key level)
120 min â€“ Falling resistance now at 1.9700 and support at 1.9424.
Reached 1.0885 support Friday before reversing higher. A close above 1.0990 today would sign another potential test of overhead resistance at 1.1101. Key resistance is now 1.1120 and falling resistance at 1.1101 so might be worth selling any rallies towards these levels and go long on a break above 1.1140. To the downside 1.0885 is key support.
Support: 1.0930 (former key level), 1.0885 (Friday low), 1.0730 (key low)
Resistance: 1.1101 (overhead res), 1.1120, 1.1205(former support level), 1.1350(former support), 1.1456 and 1.1554 (key falling resistance from Jul 07 highs)
The key points to keep an eye on today are 108.53 (overhead resistance) and 107.60 and a break of any of these levels could provide a bigger move. Watch stocks for further direction in USDJPY as any recovery in the stock market will see the USDJPY go higher.
Support: 107.60, 106.55 (risings support), 105.70 (key level), 104.95
Resistance: 108.53 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
Took out 157.06 (falling resistance) last week and this level is now interim support. Could have potential to test the overhead resistance at 159.66 near term. Have minor resistance at 158.90 that needs to be taken out first. To the downside 154.30 is key support.
Support: 158.10 (short term rising support) 157.06 (former key res), 154.95, 152.97 (long term rising trend line)
Resistance: 158.90 (former sup), 159.66 (key level), 160.31 (former support line, now resistance)
Broke out of that apex on daily chart when it moved above 1.0002 Friday and as expected it move significantly higher on the break out. Rising support at 0.9934 today and minor support at the break out level from Friday at 1.0002. First resistance level is 1.0029 today.
Support: 0.9934 (apex lower support), 0.9830 (key level), 0.9703 (1 month low)
Resistance: 1.0029 (7 Feb. reaction high), 1.0380 (key level, overhead res), 1.0400(former key support.)
Key support at 0.7400 held up once more last week and it took out 0.7492 overhead resistance overnight. This signals potential for a test of 07544 key resistance near term. Rising support coming in at 0.7412 today.
Support: 0.7412(risings support), 0.7400, 0.7387 (rising sup), 0.7284 (rising support)
Resistance: 0.7498, 0.7540 (break down level 16 Jan), 0.7612 (all time high)
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